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Jebus H. and his brother Harry, how does this shit happen ?
Why wasn’t I informed ? I could have bid that and then some, let the building deteriorate and then apply for a bail out from the city and made money. OR simply let in fall into disrepair like so many others and let the city tear it down after 15 years of rats and spiders and bats and stuff.

I’m having fun picturing the Pigeon War Room, featuring satellite readouts, a giant lit-up city map with millions of fluidly moving dots. And then there is the locked cabinet containing the Weapons of Pigeon Destruction.

Also, a giant digital sign like those ones that show the national debt in real time. But this one would be the current pigeon population.

Yeah, there would have been the HUGE mortgage to go with that teeny-tiny sales price, which is why it went on the chopping block to begin with. Not to mention a ton of state, county and local tax liens.

Common misconception about sheriff sales here. The lender that holds the mortgage has already “paid” market value or somewhere much closer to it when they made the loan. At the sheriff sale, it is correct that anyone else can bid. But if anyone else would bid, the lender will match other them up to the delinquent amount of the mortgage plus taxes and administrative costs which in this case would be in excess of the amount of the judgment in the foreclosure ($10,393,190.26). Due to risks of purchasing from a sheriff sale that there might be other mortgages, judgments, liens, etc. still attached to the property, it is rare that anyone else bids. Not to mention that anyone that would bid that amount would have to have 10% in cash payable at the time of the sale and the balance within a few days.

So it is not true that anyone could get the tower for under two grand although it certainly appears from the media accounts that someone could.